Rep. Virginia Foxx Sells Pembina Pipeline Co. (NYSE:PBA) Shares

Representative Virginia Foxx (R-North Carolina) recently sold shares of Pembina Pipeline Co. (NYSE:PBA). In a filing disclosed on January 06th, the Representative disclosed that they had sold between $50,001 and $100,000 in Pembina Pipeline stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Ardmore Shipping (NYSE:ASC) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

Pembina Pipeline Price Performance

Shares of NYSE PBA traded up $0.32 during midday trading on Thursday, reaching $36.96. The company’s stock had a trading volume of 602,609 shares, compared to its average volume of 1,352,281. The company has a market cap of $21.46 billion, a price-to-earnings ratio of 15.27 and a beta of 1.25. Pembina Pipeline Co. has a one year low of $32.81 and a one year high of $43.44. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average price of $39.47 and a 200 day moving average price of $39.67.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.69 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 7.47%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is currently 84.30%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group started coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating on the stock. Barclays started coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating on the stock. Raymond James started coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Pembina Pipeline presently has a consensus rating of “Hold” and a consensus price target of $56.50.

Hedge Funds Weigh In On Pembina Pipeline

Several institutional investors have recently bought and sold shares of PBA. Toronto Dominion Bank raised its holdings in Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after acquiring an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board boosted its stake in Pembina Pipeline by 56.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after purchasing an additional 3,043,200 shares during the period. CIBC Asset Management Inc boosted its stake in Pembina Pipeline by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock valued at $264,315,000 after purchasing an additional 481,285 shares during the period. Kayne Anderson Capital Advisors LP grew its stake in shares of Pembina Pipeline by 15.3% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock worth $171,360,000 after acquiring an additional 550,491 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Pembina Pipeline by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after acquiring an additional 624,958 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.